Passport: Most Don't Understand Cost Amortization - Politics

Passport: Most Don't Understand Cost Amortization - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Passport: Most Don't Understand Cost Amortization (539 Views)

Passport: Most Don't Understand Cost Amortization by blamingthedevil(op): 6:57pm On Aug 29, 2025*

The leader of the mob doesn't understand cost amortisation or expense allocation.

Minimum wage = N70,000
Passport cost = N100,000 validity 5 years ( 60 months ).

If the N100,000 is amortised over 60 months, the monthly cost becomes N1,667.

If you want to compare the cost of the passport with a validity of 5 years then compare it to what the person will earn over 5 years. N70,000 × 60 months = N4.2m

This has nothing to do with the cost of the passport. It's just common sense.

https://x.com/fimiletoks/status/1961478470116295002

2 Likes

Re: Passport: Most Don't Understand Cost Amortization by Softmirror: 7:04pm On Aug 29, 2025*

The daily cost is not more than #55 for #100,000 Passport for 5 years.

The people actually complaining, when asked if the can afford it, sincerely speaking I haven't come across anyone who have said they can't.

They will further tell you that it is not about them but about those who earn #70,000 as minimum wage. Which is a very interesting argument that is not rational. 😁

Re: Passport: Most Don't Understand Cost Amortization by infohenry(m): 7:08pm On Aug 29, 2025

blamingthedevil:
The leader of the mob doesn't understand cost amortisation or expense allocation.

Minimum wage = N70,000
Passport cost = N100,000 validity 5 years ( 60 months ).

If the N100,000 is amortised over 60 months, the monthly cost becomes N1,167.

If you want to compare the cost of the passport with a validity of 5 years then compare it to what the person will earn over 5 years. N70,000 × 60 months = N4.2m

This has nothing to do with the cost of the passport. It's just common sense.

https://x.com/fimiletoks/status/1961478470116295002

Useful idiots everywhere, why others are buying up the country, useful idiots are busy defending on empty stomach them while their heirs are busy balling hard.

1 Like

Re: Passport: Most Don't Understand Cost Amortization by NwaNimo1(m): 7:14pm On Aug 29, 2025

blamingthedevil:
The leader of the mob doesn't understand cost amortisation or expense allocation.

Minimum wage = N70,000
Passport cost = N100,000 validity 5 years ( 60 months ).

If the N100,000 is amortised over 60 months, the monthly cost becomes N1,167.

If you want to compare the cost of the passport with a validity of 5 years then compare it to what the person will earn over 5 years. N70,000 × 60 months = N4.2m

This has nothing to do with the cost of the passport. It's just common sense.

https://x.com/fimiletoks/status/1961478470116295002

https://storage.ko-fi.com/cdn/useruploads/display/ca674774-ebcc-4bb6-8362-19cb54c09807_123.gif

Abi na Chelsea you dey analyze?

Re: Passport: Most Don't Understand Cost Amortization by SarkinYarki: 7:16pm On Aug 29, 2025

Just look at shameless sycophants , okay do the monthly cost for the American or UK passport.... silly things

2 Likes

Re: Passport: Most Don't Understand Cost Amortization by Softmirror: 7:22pm On Aug 29, 2025

SarkinYarki:
Just look at shameless sycophants , okay do the monthly cost for the American or UK passport.... silly things

Oga why did passport dey pain you like dis?! Lol 😂

Re: Passport: Most Don't Understand Cost Amortization by PlasmaTV: 7:41pm On Aug 29, 2025

Softmirror:
The daily cost is not more than #55 for #100,000 Passport for 5 years.

The people actually complaining, when asked if the can afford it, sincerely speaking I haven't come across anyone who have said they can't.

They will further tell you that it is not about them but about those who earn #70,000 as minimum wage. Which is a very interesting argument that is not rational. 😁

You are always defending evil

1 Like

Re: Passport: Most Don't Understand Cost Amortization by Softmirror: 7:42pm On Aug 29, 2025

PlasmaTV:
You are always defending evil

Hustle o!

You trying to be MISCHIEVOUS. They payment is as demanded by U S government, which is strictly US alone because of US new policy. Doesn't affect parcels going to UK, France, Germany, Canada ...

Re: Passport: Most Don't Understand Cost Amortization by blamingthedevil(op): 7:54pm On Aug 29, 2025

infohenry:
Useful idiots everywhere, why others are buying up the country, useful idiots are busy defending on empty stomach them while their heirs are busy balling hard.

Superior argument, bring yours

God Bless Federal Republic of Nigeria

Re: Passport: Most Don't Understand Cost Amortization by blamingthedevil(op): 7:55pm On Aug 29, 2025

SarkinYarki:
Just look at shameless sycophants , okay do the monthly cost for the American or UK passport.... silly things

Superior argument, bring yours
God Bless Federal Republic of Nigeria

Re: Passport: Most Don't Understand Cost Amortization by Nobody: 8:19pm On Aug 29, 2025

Interesting use of maths.

blamingthedevil:
The leader of the mob doesn't understand cost amortisation or expense allocation.

Minimum wage = N70,000
Passport cost = N100,000 validity 5 years ( 60 months ).

If the N100,000 is amortised over 60 months, the monthly cost becomes N1,667.

If you want to compare the cost of the passport with a validity of 5 years then compare it to what the person will earn over 5 years. N70,000 × 60 months = N4.2m

This has nothing to do with the cost of the passport. It's just common sense.

https://x.com/fimiletoks/status/1961478470116295002

Re: Passport: Most Don't Understand Cost Amortization by SarkinYarki: 8:27pm On Aug 29, 2025

Softmirror:
Hustle o!

You trying to be MISCHIEVOUS. They payment is as demanded by U S government, which is strictly US alone because of US new policy. Doesn't affect parcels going to UK, France, Germany, Canada ...

Explain how 15 percent tarrif equates to a flat fee of 80 Dollars

Re: Passport: Most Don't Understand Cost Amortization by Sheuns(m): 8:54pm On Aug 29, 2025

These APC boys will do everything in their capacity to defend all their master’s failed and life threatening policies.

Una no see better job o.

Re: Passport: Most Don't Understand Cost Amortization by Kukutente23: 9:04pm On Aug 29, 2025

This is illogical
So are you saying you have to save for five years to afford a passport now or what
The point being made is that the passport is a public document that shouldn't cost an arm and a leg to procure.
Most countries have their passport cost below their minimum wage. Why is Nigeria an exemption to that rule?

Re: Passport: Most Don't Understand Cost Amortization by Fujiyama: 9:20pm On Aug 29, 2025

blamingthedevil:
The leader of the mob doesn't understand cost amortisation or expense allocation.

Minimum wage = N70,000
Passport cost = N100,000 validity 5 years ( 60 months ).

If the N100,000 is amortised over 60 months, the monthly cost becomes N1,667.

If you want to compare the cost of the passport with a validity of 5 years then compare it to what the person will earn over 5 years. N70,000 × 60 months = N4.2m

This has nothing to do with the cost of the passport. It's just common sense.

https://x.com/fimiletoks/status/1961478470116295002

^^^

Very funny argument about 'monthly cost'.

First of all, should you even be talking of amortisation here? Is a passport a tangible asset or an intangible asset?

Let's even put that aside. You have put forward a very strange argument about monthly cost of a passport. If you wish to amortise or depreciate (or whatever the hell it is you want to do), then Nigerians shouldn't even pay one kobo to government for a passport...because amortisation and depreciation are non cash expenses. Aren't they?

Since some people have decided to be mad, we shall all join in the madness.

1 Reply

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